Stu and PSA are low risk, moneymaking machines, but HDR and COE have the potential for real rollercoasting, but not too much downside. I like a mixture, then if you don't get the a golden goose egg for Xmass, at least you can count on a fat ugly little duckling for Xmass dinner. Agree we need patience with STU, they do have a lot on, but they do seem to be planning more to ensure they have all the resources (rigs, tankers, and presumably skills) they need. I have a strong view that in the immediate future companies that people want to work for, that they are happy to deal with, will win the talent, skills and resources wars. On this count I rate STU and IGO highly, and STO, ORG, AWE poorly. In fact I reckon BPT and STU must be an advantage being in Adelaide competing with STO for people. IPM is also an interesting company if Turkey doesn't put you off.
I have all but given up on chasing explorers, for a multitude of reasons, seems best left to geos and traders. Chasing mgmt talent and proven business models.
On HDR very pleased to read in the Annual report, Potter talking of the need to derisk the portfolio, getting more non Mauritanian assets. Which suits me as my no.2 stock is ROC (meaning I"ll never sleep through a coup).
Goodluck, Entropylord
STU Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
